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Here we are good old Labour.  I thought after 13 years of Labour rule they were getting rid of the red tape but there we are.  All the penalties are increasing across the board from Companies House to HMRC.  Sooner or later there will be no need for enquiries because the penalties will take care of whatever monies are outstanding.

 

The penalties for late filing at Companies House are now as follows:-

 

 

 

Not more than 1 month

 

 

£150

 

 

More than 1 month but no more than 3 months

 

 

£375

 

 

More than 3 months but no more than 6 months

 

 

£750

 

 

More than 6 months

 

 

£1500

 

 

 

HMRC new PAYE penalty for late payments are as follows:-

 

 

 

Number of Times Payments are Late in a Tax Year

 

 

Penalty Percentage

 

 

1

 

 

No Penalty

 

 

2 – 4

 

 

1%

 

 

5 – 7

 

 

2%

 

 

8 – 10

 

 

3%

 

 

11 or more

 

 

4%

 

 

 

Penalties for all Tax Returns are as follows:-

 

 

 

Minimum

 

 

Maximum

 

 

Reasonable Care

 

 

No Penalty

 

 

No Penalty

 

 

Careless Unprompted

 

 

0%

 

 

30%

 

 

Careless Prompted

 

 

15%

 

 

30%

 

 

Deliberate Unprompted

 

 

20%

 

 

70%

 

 

Deliberate Prompted

 

 

35%

 

 

70%

 

 

Deliberate and Concealed Unprompted

 

 

30%

 

 

100%

 

 

Deliberate and Concealed Prompted

 

 

50%

 

 

100%

 

 

 

REMEMBER IF YOU GET ENQUIRIES YOU NEED A STRONG TEAM TO FIGHT YOUR CASE

 

Call KinsellaTax NOW on 0800 471 4546 for expert advice and professional representation. Don’t delay, call today

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